Fischer Black Redux: The Impossible Circularity Of A Metaphysical Argument
by Philip Pilkington
Fixing the Economists Article of the Week
In the last piece on Fischer Black, we saw how he created, in his own mind, an entity called “noise” which, for him, explained all the shortcomings of the world. But such raises an important question: shortcomings in the face of what? The answer, of course, is a perfect equilibrium world where everything that was once shrouded in Darkness is brought into the Light. In short, a vision of a world without Sin; a world before the Fall.
Source: http://econintersect.com/pages/analysis/analysis.php?post=202007160105
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